BB allows agent banking in municipal areas

Banks can now operate “agent banking” in municipal (Pourashabha) areas alongside the rural areas. A Bangladesh Bank (BB) circular on Monday amended its previous circular where it had barred agent banking within metropolitan, city corporation and municipal areas. The Bangladesh Bank’s amended circular, was signed by its deputy general manager of Banking Regulation and Policy Department (BRDP) Anwarul Islam.  “But the bar on agent banking operation in metropolitan and city corporation areas will remains,” the circular said. In another amended circular, the central bank said that the bank branches located in the metropolitan, city corporation and K and Kha categorised municipalities will be considered as “urban branch” and the bank branches located Ka categorised municipality areas and also in union council areas will be considered as “rural branch,” according to a news agency.